Jubilee Metals wants a processing facility for its three copper projects (Roan, Lechwe, Elephant) in Zambia. This goal is on track to be achieved through an agreement with Mopani Copper Mines.
Mining company Jubilee Metals announced on August 24 that it had entered into a binding memorandum of understanding with Mopani Copper Mines, a subsidiary of state-owned ZCCM-IH. The partnership involves the renovation and then the operation by Jubilee Metals of a copper and cobalt refining infrastructure placed under maintenance and upkeep by Mopani.
This agreement will allow Jubilee to increase its annual copper refining capacity in Zambia by 17,000 tonnes to 31,000 tonnes. The renovated plant will first be used to process copper and cobalt concentrates produced at the Kitwe mine and copper and cobalt tailings from Luanshya. In addition to eliminating the losses linked to the non-use of its facilities, it should be noted that Mopani Copper Mines gains a right of first refusal on the final production of the refinery.
“The agreement is structured within a collaborative framework that recognizes each party’s contribution to the ultimate success of the project and establishes a mutually beneficial partnership,” said Leon Coetzer (pictured), CEO of Jubilee, adding that the company’s engineers are working already with Mopani to make the project a success.
Coincidentally, the announcement of the partnership between Mopani and Jubilee Metals came on the same day as the inauguration of the new Zambian president, in which Hakainde Hichilema signaled his intention to encourage local processing of minerals.
As a reminder, Jubilee Metals owns the Roan, Lechwe and Elephant copper and / or cobalt projects in Zambia. The company also owns the Kabwe zinc, lead and vanadium project.
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